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| Happy Tuesday, Daily Money readers. It's Paul Davidson bringing you today's news. |
| The scandal surrounding FTX, the failed cryptocurrency currency exchange, reached a boil over the past 24 hours as its founder was arrested in the Bahamas and charged with fraud just ahead of his scheduled testimony before Congress on Tuesday. |
| Sam Bankman-Fried is accused of using customers' money for trading by his investment company, Alameda Research. He had been scheduled to testify before the House Financial Services Committee. The controversy has affected about 1 million customers. |
Inflation eases sharply for second straight month |
| There was good news on Americans' top economic concern: consumer prices. Inflation eased sharply for a second straight month in November as prices rose 7.1% annually, down from 7.7% in October and 40-year high of 9.1% in June. |
| Gasoline prices fell for the fourth time in five months, edging down 2%. That was offset by continued increases in rent and food costs, though both grocery and restaurant price gains are easing. Prices for services continue to rise as companies boost pay in response to worker shortages. |
📰More stories you shouldn't miss📰 |
| Eggo fined $85,000 for toxic gas release at California waffle factory: Kellogg-owned waffle maker convicted of "large release of toxic ammonia" DA says. |
| Elon Musk's Twitter disbands its Trust and Safety Council: Group was formed to address hate speech, child exploitation, other problems on the platform. |
| When is the next Fed meeting? Here's what to know and when to expect (another) fed rate hike. |
About the Daily Money |
| Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. |
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